Mr. Myke Clark reports

REVOLVE ANNOUNCES COMPLETION OF MAJOR INTERCONNECTION MILESTONE ON 49.6MW PRIMUS WIND PROJECT IN THE U.S.

Revolve Renewable Power Corp. has completed a significant milestone for its 49.6-megawatt Primus wind project, located in Colorado, United States. Specifically, Revolve completed the interconnection process for the Primus wind project and has signed an interconnection agreement with Tri-State Generation and Transmission Inc. Completion of this milestone paves the way for the project to complete the remaining permitting works with a target of being ready to build (RTB) in late 2025.

"The completion of this major interconnection milestone for the Primus wind project is significant as we continue to advance this 49.6-megawatt wind project towards ready-to-build status in 2025," said chief executive officer Myke Clark. "Our team has also completed the basic engineering works for the Primus wind project, including finalizing the turbine layout, internal road design and medium-voltage network design. Combined with our 20-megawatt/80-megawatt-hour Vernal battery energy storage system project, Revolve now has two development projects representing 70 megawatts of installed capacity in the U.S. with signed interconnection agreements. Both are progressing towards being fully ready to build over the next 12 months. Two thousand twenty-five is shaping up to be an exciting year for our U.S. operations and we look forward to updating shareholders on the continued progress of both projects over the coming months."

Primus wind project overview:

• Project location: The project is located north of Burlington, Colo., in Kit Carson county. Colorado is one of the main wind energy states in the United States. Land lease option agreements have been signed with several landowners for the entire project area. The project site is easily accessed through the existing local road network and is in close proximity to the local transmission network.
• Project capacity: The 49.6-megawatt wind project consists of between 11 and 13 wind turbines, depending on the final selection of the preferred turbine model and supplier for the project.
• Energy resource assessment: The installation of this mast was completed in September, 2022, and the measurement of the wind conditions at the project site is continuing. The company recently completed a detailed energy resource assessment for the project, which indicated a potential energy output between 165 gigawatt-hours to 185 gigawatt-hours annually confirming the strong wind resource at the project location.
• Basic engineering: The company also recently completed the basic engineering works for the project, including finalizing the turbine layout, internal road design, medium-voltage network design and interconnection works. Detailed engineering and the selection of the preferred turbine supplier and construction contractors are expected to occur in the middle of next year.
• Development status: The project has been under development since late 2021 and is now considered to be at a late stage of development following completion of the interconnection process. As part of the interconnection process, the company has secured a 636,000 (U.S.) surety bond to serve as the performance security deposit required under the large-generator interconnection agreement (LGIA). The remaining permitting work to be completed over the coming six to nine months consists of various environmental studies, a conditional-use permit application and the building permit application.
• Financial forecast: The project, once fully commissioned, is expected to generate annualized revenue in the range of $6-million (U.S.) to $7-million (U.S.) and EBITDA (earnings before interest, taxes, depreciation and amortization) of between $4-million (U.S.) and $5-million (U.S.). Revolve's strategy is to own and operate projects such as the Primus wind project and will update these forecasts closer to construction commencing and as the commercial arrangements for the sale of electricity from the project are finalized.

About Revolve Renewable Power Corp.

Revolve was formed in 2012 to capitalize on the growing global demand for renewable power. Revolve develops utility-scale wind, solar, hydro and battery storage projects in the United States, Canada and Mexico. The company has a second division, Revolve Renewable Business Solutions, which installs and operates sub-20-megawatt behind-the-meter distributed generation (DG) assets. Revolve's portfolio includes the following:

• Operating assets -- 11 megawatts (net) of operating assets under long-term power purchase agreements across Canada and Mexico covering wind, solar, battery storage and hydro generation;
• Under construction -- a three-megawatt CHP (combined heat and power) project and a 450-kilowatt-peak rooftop solar project that are both under construction and expected to be operational later this year;
• Development -- a diverse portfolio of utility-scale development projects across the United States, Canada and Mexico with a combined capacity of over 3,000 megawatts as well as a 140-megawatt-plus distributed generation portfolio that is under development.

Revolve has an accomplished management team with a demonstrated record of taking projects from greenfield through to ready-to-build status and successfully concluding project sales to large operators of utility-scale renewable energy projects. To date, Revolve has developed and sold over 1,550 megawatts of projects.

Going forward, Revolve is targeting 5,000 megawatts of utility-scale projects under development in the United States, Canada and Mexico and, in parallel, is rapidly growing its portfolio of revenue-generating DG assets.

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